Reported by Mike Figliola
John Gambling Radio - WOR 710
March 25, 2009
Peter King, Congressman (R-Seaford NY) joined The John Gambling Show to discuss Secretary Geithner and Fed Chairman Bernanke testifying in front of Congress yesterday - what was said about the toxic asset and AIG plan?
Congressman King said empowering the Government more, in light of the AIG scandal is a dangerous precedent. The Congressman says that this is reminiscient of Chavez in Venezuala! What this would do is: anytime there was a problem with a company, the pressure would be on to Nationalize it and have the government assume control. Bottom line: this is too dangerous of a weapon to give to the Government.
Congressman King added that not everyone can be a winner and not every company will succeed. Everyone cannot be bailed out and unfortunately, this is the atmosphere within this administration. Congressman King says this is a case of not being able to fail but if you succeed, we are going to penalize you. This is the wrong philosophy to be preaching.
Finally, Congressman King said we are guaranteed the pursuit of happiness, not guaranteed happiness and right now, this is what is going on down in DC right now.
